Question

You buy a new car for $25,000 and it depreciates at a rate of 6.5% per year. How much would it be

worth in 5 years? Round to the nearest cent.

Answer 1

$17864.80

Explanation:

25000*(1-0.065)^5

25000*0.935^5

25000*0.71459184283

17864.79607